- My mother is the main applicant and i am the co-applicant of our home loan.
- My mother is the only owner of this property.
I would like to know how much IT exemption can be claimed by me and my mother?
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Principal and interest exemption on income tax for joint home loan
Replies (5)
loan in the name of both so u can take dedection u/s 80c upto rs 1.5lakh subject to condition fulfilled
I do not need to be a co-wner of the property? Also, can me and my mum can get exemption individually i.e 1.5 lakhs each?
BOTH OF U SHOULD BE CO-OWNERS AND CO-BORROWER TO AVAIL THIS DEDUCTION
But Vivek B is saying he is Co-Borrower BUT not the Co-owner. What can he claim in such case?
You can get the benefit u/s 80C up to 1,50,000/-
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